Go to Jeff Salisbury LWGate Home Page.From: "Gene Ricci" <genr@swbell.net>
Subject: [CANSLIM] A Pfennig For Your Thoughts 5/21/03
Date: Thu, 22 May 2003 08:54:25 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_0272_01C3203F.BEA8D530 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable I recall someone asking about information regarding currencies. Chuck = Butler publishes the Pfenning that may be good for this purpose. There = are sign-up instructions at the end of this. I do not get his email, a = friend forwarded this to me.=20 Gene > Everbank World Markets > A Pfennig For Your Thoughts > May 21, 2003 > > In This Issue... > > * Soros Returns > * Mad Cow in Canada > * Coming Clean > * Headaches! > > ........But First, A Word From Our Sponsor.......... > > Need more World Market deposit slips? Simply give > us a call at 800.926.4922, or, you can send an > e-mail to worldmarkets@everbank.com. We'll be happy > to send you more Bank-By-Mail envelopes by return mail. > > ..................................................... > And now... Today's Pfennig! > > > > Soros Pushes The Euro Past 1.17 > > > Good day... Well, yesterday we had a truck load of news to digest, = which > gives me an opportunity to regurgitate it here! Had an awful headache > yesterday, hope I didn't snap at anyone, or set somebody "off" with a > sarcastic comment, like I'm known to do... > > First story out of the starter's blocks this morning was the piece = that > came across the screens late yesterday afternoon, regarding financier > George Soros, and his outlook for the dollar. Here are some snippets = for > your perusal... Hedge funds and other speculative investors are back = in > the limelight in currency markets after billionaire investor George > Soros said on Tuesday he was selling the dollar against most major > currencies. > > Soros's salvo was confirmation of what currency market data had > suggested: that short-term currency market investors are a key = catalyst > pushing the euro higher against the languishing greenback. > > In the wide-ranging interview in which he assailed the Bush > administration's policies, Soros said he was buying the euro and the > currencies of Australia, Canada and New Zealand against the dollar, as > well as gold. > > Ok, stop for a minute... Does this sound like either; 1. He's been > talking to the desk here... Or 2. maybe, just maybe, he's a Pfennig > Reader? > > Either way, his comments were the fuel the euro needed to move past = the > 1.17 handle, and stay there through the Tokyo session... > > Some of you may recall the events in 1992, when Soros led a group of > speculators in bouncing the British pound out of the ERM... (the ERM = is > the Exchange Rate Mechanism that was used to place currencies in a = range > before assigning a value to exchange for euros) Soros probably doesn't > have the drive any longer to take on a Central Bank, but his saying = that > the dollar should be sold, is enough of a catalyst to move the market. > > Ok... Next, is the story that hit the screen late yesterday regarding = a > cow in Alberta Canada that tested positive for Mad Cow... I saw that > headline, and immediately spun my head around to see where the loonie > was trading, for I assumed this would hurt the currency... Nope! Not > today... In fact, my contact in Canada, tells me that businesses and > institutions were buying the loonie by the handfuls... And... The = loonie > closed above 74-cents! > > Man! Everybody and their brothers are writing about the end of the > "strong dollar policy"... Hey! Don't you think that former U.S. = Treasury > Secretary, Paul O'Neill is wishing he would have been able to come = clean > like his replacement, John Snow? O'Neill had to feel foolish to stand = up > and say the administration still believed in a strong dollar policy, > when, he had steel tariffs, interest rates being cut by the boat load, > and other indications to the contrary? I do... But at least Mr. Snow, > can go out in public! > > I received some really cool press yesterday in Thom Calandra's = report... > Mr. Calandra, of CBS Market Watch, has started a "paid" subscription > newsletter... It's very good! I subscribe! Just go to the CBS Market > Watch web site, and look for the link to sign up for the "Calandra > Report". > > Aussie dollars touched 66-cents last night, only to see a bit of = profit > taking on the figure... But pretty soon, those sell orders will be in > the rear view mirror of Aussie dollars... And it will find that you = can > get your kicks... On route 66! > > Oh, Greenspan heads to the "hill" today... And he's going to tell > members of the Senate, and House that he still sees stronger growth in > the 2nd half of this year... Of course the last time he tried that > schpeel, a congressman asked him what planet he was from! So, it will = be > interesting to see what happens this time. > > The Norges Bank's Gov. Gjedrem said this morning that Norway's = inflation > is easing... Ok for all of you new to class... This is Central Bank > parlance for... A rate cut is coming, tra la, tra la... > > Currencies today: A$ .6592, kiwi .5855, C$ .7410, euro 1.1715, = sterling > 1.6440, Swiss .7765, rand 7.7676, krone 6.7005, forint 210.15, zloty > 3.73, koruna 26.88, yen 117, (back to 117, the BOJ intervention = worked! > For now...) and pesos... 10.2270 > > That's it for today... Everyone is back home on the desk now... We've > had business, vacations, and world travelers, like Cheryl Harper, who > was greatly missed! But the house is in order now... Shoot, that darn > headache is coming back... YECH! Oh well, have a great Wednesday! > > Chuck Butler > President > Everbank World Markets > 1-800-926-4922 > 1-314-984-0892 > www.everbank.com > > = - ------------------------------------------------------------------------ > = - ------------------------------------------------------------------------ > ---------------- > All comments and opinions are solely those of the writer and are not = in > any way comments or opinions of Everbank, First Alliance Bank, (FAB), = or > any affiliates of either entity. Additional information is available > upon request. Information in this publication has been obtained from > sources believed by the writer to be reliable, but the accuracy, > completeness and interpretation are not guaranteed and have not been > independently verified. Opinions expressed are subject to change = without > notice and, due to the rapidly changing nature of currency markets, = may > quickly become outdated. The opinions and information presented do not > constitute a solicitation for the purchase or sale of any securities = or > options on securities. ADDRESS CHANGE? WISH TO CANCEL? OR SIGN UP A > FRIEND OR COLLEAGUE? SEND A MESSAGE TO worldcurrency@everbank.com = Chuck > Butler President Everbank World Markets 1-800-926-4922 1-314-984-0892 > www.everbank.com > > > > > - ------=_NextPart_000_0272_01C3203F.BEA8D530 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2726.2500" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV>I recall someone asking about information regarding = currencies. Chuck=20 Butler publishes the Pfenning that <U>may be good</U> for this = purpose.=20 There are sign-up instructions at the end of this. I do not get his = email, a=20 friend forwarded this to me. <BR></DIV> <DIV>Gene</DIV> <DIV><FONT face=3D"Comic Sans MS"></FONT><BR><BR>> Everbank World=20 Markets<BR>> A = Pfennig=20 For Your Thoughts<BR>> May 21, = 2003<BR>><BR>>=20 In This Issue...<BR>><BR>> * Soros Returns<BR>> * Mad Cow in=20 Canada<BR>> * Coming Clean<BR>> * Headaches!<BR>><BR>> = ........But=20 First, A Word From Our Sponsor..........<BR>><BR>> Need more World = Market=20 deposit slips? Simply give<BR>> us a call at 800.926.4922, or, you = can send=20 an<BR>> e-mail to <A=20 href=3D"mailto:worldmarkets@everbank.com">worldmarkets@everbank.com</A>. = We'll be=20 happy<BR>> to send you more Bank-By-Mail envelopes by return=20 mail.<BR>><BR>>=20 .....................................................<BR>> And now... = Today's=20 Pfennig!<BR>><BR>><BR>><BR>> Soros Pushes The Euro Past=20 1.17<BR>><BR>><BR>> Good day... Well, yesterday we had a truck = load of=20 news to digest, which<BR>> gives me an opportunity to regurgitate it = here!=20 Had an awful headache<BR>> yesterday, hope I didn't snap at anyone, = or set=20 somebody "off" with a<BR>> sarcastic comment, like I'm known to=20 do...<BR>><BR>> First story out of the starter's blocks this = morning was=20 the piece that<BR>> came across the screens late yesterday afternoon, = regarding financier<BR>> George Soros, and his outlook for the = dollar. Here=20 are some snippets for<BR>> your perusal... Hedge funds and other = speculative=20 investors are back in<BR>> the limelight in currency markets after=20 billionaire investor George<BR>> Soros said on Tuesday he was selling = the=20 dollar against most major<BR>> currencies.<BR>><BR>> Soros's = salvo was=20 confirmation of what currency market data had<BR>> suggested: that = short-term=20 currency market investors are a key catalyst<BR>> pushing the euro = higher=20 against the languishing greenback.<BR>><BR>> In the wide-ranging = interview=20 in which he assailed the Bush<BR>> administration's policies, Soros = said he=20 was buying the euro and the<BR>> currencies of Australia, Canada and = New=20 Zealand against the dollar, as<BR>> well as gold.<BR>><BR>> Ok, = stop=20 for a minute... Does this sound like either; 1. He's been<BR>> = talking to the=20 desk here... Or 2. maybe, just maybe, he's a Pfennig<BR>>=20 Reader?<BR>><BR>> Either way, his comments were the fuel the euro = needed=20 to move past the<BR>> 1.17 handle, and stay there through the Tokyo=20 session...<BR>><BR>> Some of you may recall the events in 1992, = when Soros=20 led a group of<BR>> speculators in bouncing the British pound out of = the=20 ERM... (the ERM is<BR>> the Exchange Rate Mechanism that was used to = place=20 currencies in a range<BR>> before assigning a value to exchange for = euros)=20 Soros probably doesn't<BR>> have the drive any longer to take on a = Central=20 Bank, but his saying that<BR>> the dollar should be sold, is enough = of a=20 catalyst to move the market.<BR>><BR>> Ok... Next, is the story = that hit=20 the screen late yesterday regarding a<BR>> cow in Alberta Canada that = tested=20 positive for Mad Cow... I saw that<BR>> headline, and immediately = spun my=20 head around to see where the loonie<BR>> was trading, for I assumed = this=20 would hurt the currency... Nope! Not<BR>> today... In fact, my = contact in=20 Canada, tells me that businesses and<BR>> institutions were buying = the loonie=20 by the handfuls... And... The loonie<BR>> closed above=20 74-cents!<BR>><BR>> Man! Everybody and their brothers are writing = about=20 the end of the<BR>> "strong dollar policy"... Hey! Don't you think = that=20 former U.S. Treasury<BR>> Secretary, Paul O'Neill is wishing he would = have=20 been able to come clean<BR>> like his replacement, John Snow? O'Neill = had to=20 feel foolish to stand up<BR>> and say the administration still = believed in a=20 strong dollar policy,<BR>> when, he had steel tariffs, interest rates = being=20 cut by the boat load,<BR>> and other indications to the contrary? I = do... But=20 at least Mr. Snow,<BR>> can go out in public!<BR>><BR>> I = received some=20 really cool press yesterday in Thom Calandra's report...<BR>> Mr. = Calandra,=20 of CBS Market Watch, has started a "paid" subscription<BR>>=20 newsletter... It's very good! I subscribe! Just go to the CBS = Market<BR>>=20 Watch web site, and look for the link to sign up for the = "Calandra<BR>>=20 Report".<BR>><BR>> Aussie dollars touched 66-cents last night, = only to see=20 a bit of profit<BR>> taking on the figure... But pretty soon, those = sell=20 orders will be in<BR>> the rear view mirror of Aussie dollars... And = it will=20 find that you can<BR>> get your kicks... On route 66!<BR>><BR>> = Oh,=20 Greenspan heads to the "hill" today... And he's going to tell<BR>> = members of=20 the Senate, and House that he still sees stronger growth in<BR>> the = 2nd half=20 of this year... Of course the last time he tried that<BR>> schpeel, a = congressman asked him what planet he was from! So, it will be<BR>>=20 interesting to see what happens this time.<BR>><BR>> The Norges = Bank's=20 Gov. Gjedrem said this morning that Norway's inflation<BR>> is = easing... Ok=20 for all of you new to class... This is Central Bank<BR>> parlance = for... A=20 rate cut is coming, tra la, tra la...<BR>><BR>> Currencies today: = A$=20 .6592, kiwi .5855, C$ .7410, euro 1.1715, sterling<BR>> 1.6440, Swiss = .7765,=20 rand 7.7676, krone 6.7005, forint 210.15, zloty<BR>> 3.73, koruna = 26.88, yen=20 117, (back to 117, the BOJ intervention worked!<BR>> For now...) and = pesos...=20 10.2270<BR>><BR>> That's it for today... Everyone is back home on = the desk=20 now... We've<BR>> had business, vacations, and world travelers, like = Cheryl=20 Harper, who<BR>> was greatly missed! But the house is in order = now... =20 Shoot, that darn<BR>> headache is coming back... YECH! Oh well, have = a great=20 Wednesday!<BR>><BR>> Chuck Butler<BR>> President<BR>> = Everbank World=20 Markets<BR>> 1-800-926-4922<BR>> 1-314-984-0892<BR>> <A=20 href=3D"http://www.everbank.com">www.everbank.com</A><BR>><BR>>=20 - ------------------------------------------------------------------------<= BR>>=20 - ------------------------------------------------------------------------<= BR>>=20 - ----------------<BR>> All comments and opinions are solely those of = the=20 writer and are not in<BR>> any way comments or opinions of Everbank, = First=20 Alliance Bank, (FAB), or<BR>> any affiliates of either entity. = Additional=20 information is available<BR>> upon request. Information in this = publication=20 has been obtained from<BR>> sources believed by the writer to be = reliable,=20 but the accuracy,<BR>> completeness and interpretation are not = guaranteed and=20 have not been<BR>> independently verified. Opinions expressed are = subject to=20 change without<BR>> notice and, due to the rapidly changing nature of = currency markets, may<BR>> quickly become outdated. The opinions and=20 information presented do not<BR>> constitute a solicitation for the = purchase=20 or sale of any securities or<BR>> options on securities. ADDRESS = CHANGE? WISH=20 TO CANCEL? OR SIGN UP A<BR>> FRIEND OR COLLEAGUE? SEND A MESSAGE TO = <A=20 href=3D"mailto:worldcurrency@everbank.com">worldcurrency@everbank.com</A>= =20 Chuck<BR>> Butler President Everbank World Markets 1-800-926-4922=20 1-314-984-0892<BR>> <A=20 href=3D"http://www.everbank.com">www.everbank.com</A><BR>><BR>><BR>= ><BR>><BR>><BR><BR></DIV></BODY></HTML> - ------=_NextPart_000_0272_01C3203F.BEA8D530-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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